Keyword → AI data center

Qualcomm Doubles Fiscal 2029 Non-Handset Revenue Target to $40B — Meta CPU Partnership and $3.92B Modular Acquisition Mark Chipmaker's AI Data Center Pivot

Qualcomm more than doubled its fiscal 2029 non-handset revenue target to $40 billion from $22 billion at its Investor Day, announcing Meta Platforms as its first data center customer for the Dragonfly C1000 CPU and a $3.92 billion all-stock acquisition of AI software startup Modular. Shares rose roughly 9% in regular trading after surging 15% in after-hours Wednesday, with data center alone targeted at $15 billion by 2029. Microsoft Azure also confirmed deployment of Qualcomm's High-Bandwidth Compute technology.

Oracle (ORCL) Cuts 21,000 Jobs — 13% of Workforce Eliminated as AI Deployment Cited Directly in Annual Filing

Oracle disclosed in its fiscal year 2026 annual report that it cut approximately 21,000 jobs over the past 12 months, reducing its global headcount by 13% from roughly 162,000 to 141,000 employees. The filing cited artificial intelligence deployment as a direct cause of workforce reductions and flagged further cuts as likely. Restructuring costs reached $1.84 billion, nearly five times the prior year's charge, even as Oracle simultaneously earmarks at least $50 billion for AI data center infrastructure.

Meta Seals Multiyear AMD Partnership, Deploying 6 Gigawatts of Instinct GPUs for AI Data Centers

Meta Platforms has inked a landmark multiyear agreement with Advanced Micro Devices to deploy up to 6 gigawatts of AMD Instinct graphics processing units across its artificial intelligence data center infrastructure. The deal, which includes a performance-based warrant granting Meta the right to acquire up to 160 million AMD shares, lifted AMD stock by more than 6% in Tuesday trading and signals a significant diversification away from Nvidia among hyperscale cloud operators.